Evolution of Balance is an in-network provider with most major insurance companies, making it easier for you to finance your sessions with Dr. Blair and to use your insurance benefits.
As an in-network healthcare provider, Evolution of Balance bills and collects directly from your insurance company and only collects appropriate fees from you.
Health insurance deductibles will be refreshing in the new year and we’d like to help you maximize your benefits before the end of the year. Here’s a refresher on some health insurance basics to help you take advantage of your benefits before the new year:
Deductible
A deductible is the annual amount you are required to pay for your health care before your insurance begins to contribute. Deductible amounts vary from policy to policy and typically refresh at the beginning of every calendar year.
Let’s say your plan deductible is $1000; if you have paid $1000 in healthcare expenses this year, your policy will contribute to your cost for care. The amount that you pay after you have met your annual deductible is dependent on your insurance plan details (Co-Insurance, Co-Pay, and Stop-Loss / Maximum Out-Of-Pocket).
Because your deductible is an annual amount to be met, in the coming new year most people with insurance benefits will need to meet a new deductible before their insurance plan contributes to healthcare expenses.
Co-Insurance
Co-Insurance is the amount you are required to pay for your health care services after you’ve met your deductible. Say you’ve paid $1,000 in health expenses and met your deductible. When you visit a doctor, a health specialist, or an in-network chiropractor like Dr. Blair, instead of paying the full cost, you and your health insurance plan share the cost. The portion you pay is called your coinsurance.
Copay
Similar to coinsurance, a copay is an amount that you pay for your healthcare service. A copay is a fixed amount you pay at the time services are rendered, i.e in the office after your chiropractic appointment with Dr. Blair. This amount can vary by service and is determined by your plan. As a general rule, copays do not count towards your deductible. Often, but not always, plans that have a copay do not have a co-insurance; frequently, plans with copays cover all costs for care above the co-pay amount once the deductible is met.
Stop Loss / Maximum Out of Pocket
Stop-Loss or Maximum Out of Pocket is the dollar amount for claims filed at which point you’ve paid 100% of your out-of-pocket requirements and your insurance plan begins to pay for all healthcare costs for the remainder of the year.
At Evolution of Balance, we thoroughly check the details of your plan benefits for you, and bill your insurance so you don’t have to.
If you are needing care, now is a good time to make an appointment before annual deductibles hit refresh in the new year.
As the holiday season approaches and the temperatures start to drop, remember to take care of yourself and your loved ones.
Evolution of Balance is here to help you feel your best.